MPG SOLUTIONS > EMPLOYER OF RECORD
An Employer Of Record (EOR) program, similar to a Professional Employer Organization (PEO), provides the workforce of businesses with Workers’ Compensation coverage. However, unlike the PEO which is a co-employer with the business risk, the EOR is the sole employer of record of the workforce and is therefore solely obligated to pay payroll and payroll taxes, manage and pay Workers’ Compensation claims, and for employee benefit purposes.
Monarch Partners Group (MPG) can secure Workers’ Compensation coverage for your distressed risks through an EOR. The EOR is ideal for newer, smaller entities. It uses a pay-as-you-go process with each payroll run, allowing for better administration and cash flow management.
New potential EOR clients’ only need to be evaluated and underwritten by the EOR, which usually takes about a week to complete.
EORs are typically willing to work with small businesses with as few as one or two regular employees. They oversee seasonal workers, project-specific hires, and out-of-state employees, and understand employment laws inside and out. They take on the responsibility for all of the taxes, insurance, and benefits. EORs ensure that the employees they oversee are covered for workplace-related illnesses or injuries.
With more than 30 years of experience and $900 million in payroll in our programs, MPG can find a Workers’ Compensation solution for most any distressed risk in any industry. We do this through our carefully selected, vetted and contracted Standard Markets, Administration Service Organizations (ASO), Professional Employer Organizations (PEO), Employer Of Record (EOR), and Captive program markets. MPG delivers to Agents & Brokers and their clients the right tailored solution. One size does not fit all when it comes to Workers’ Compensation solutions.